Australia's SKS Tech eyes best day in 2 months on acquiring APEC Tech
04/03/2021 23:56
** Shares of SKS Technologies SKS.AX surge as much as
16.7% to A$0.245, their biggest intraday pct gain since Jan. 8
** The communication networking solutions provider entered
into a binding agreement to acquire Victoria-based fibre
networking provider APEC Technologies Group, valued at about A$2
mln ($1.54 mln) urn:newsml:reuters.com:*:nASX8Q38kS
** Co expects to achieve annualised revenue in excess of
A$50 million through the acquisition
** Stock at its highest Jan. 28
** About 119,000 shares change hands, vs the 30-day average
volume of ~57,000 shares
** Stock has risen 7.7% this year, as of last close
($1 = 1.2963 Australian dollars)
(Reporting by Harish Sridharan in Bengaluru)
((harish.sridharan@thomsonreuters.com))